Business, 15.04.2020 19:53 tracijp

Assume that the price of a product increases from $9.50 to $10.50 and this causes the quantity demanded to drop from 2,050 units to 1,950 units.

A. calculate the total revenue at each price level.
B. calculate the price elasticity of demand between these two points.
C. Is this demand elastic or inelastic?

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Assume that the price of a product increases from $9.50 to $10.50 and this causes the quantity deman...